SEC rejects bitcoin ETF applications again: fear of price manipulation

On February 27, The us securities and exchange commission (SEC) again rejected an application to trade bitcoin etfs on NYSE Arca, citing concerns about price manipulation.

The us securities and exchange commission on Wednesday reportedly rejected a proposed rule change on NYSE Arca that would have allowed bitcoin and the Treasury Investment Trust to list in Wilshire Phoenix, New York. As in the past, the agency cited concerns of market manipulation and a lack of monitoring sharing agreements.

Wilshire Phoenix, an investment management firm, and NYSE Arca filed a proposal to amend their proposed bitcoin ETF early last year. Wilshire Phoenix updated its filing on Feb. 14, ahead of the Feb. 26 deadline for the SEC's decision.

Source:https://www.theblockcrypto.com/linked/57111/

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